Markets

At the 2024 Tsinghua PBC Chief Economist Forum, former Chinese Vice Minister of Finance Zhu Guangyao urged China to re-evaluate its approach to the crypto industry. He cited the evolving international stance on digital currencies, particularly in the United States, where the asset class has gained political support from key figures like U.S. presidential candidate Donald Trump. Policy Shift In his speech, Zhu acknowledged the risks and challenges posed by crypto but...

TL;DR A potential appeal by the SEC is becoming more likely, with one expert estimating a 60% chance. However, he doesn’t have the best track history when it comes to this particular case. An Appeal on the Horizon? Despite the recent developments, the legal battle between Ripple and the US Securities and Exchange Commission (SEC) remains ongoing. The latest important ruling occurred in August when Federal Judge Torres determined that the sales of XRP on secondary markets to...

Bitcoin appears to have defied the historical trend of negative return for September, with almost 9% in gains for the month. At the time of writing, Bitcoin is trading above $64,000. As such, experts are now betting on a more favourable market conditions and a continued bullish trend for the world’s leading crypto asset. Room For Growth According to the latest update by Matrixport, Bitcoin’s funding rate has returned to near zero, despite recent price volatility. This...

On September 27, bitcoin (BTC) reclaimed a trading price of $66,500 for the first time since late July. This surge was accompanied by bullish sentiments from many investors. Instead of going higher, the leading crypto asset has tanked below $64,000 at press time. Blockchain market intelligence platform Santiment shares insight into a possible reason behind bitcoin’s failure to unlock higher prices. What Could Drive Bitcoin’s New ATH? The chart below shows the rapid surge in...

After breaking above the middle boundary of the descending price channel, Ethereum has temporarily lost its bullish momentum, slightly approaching the crucial $2.8K resistance. The upcoming price action around this level will play a decisive role in shaping Ethereum’s trajectory in the mid-term, with potential outcomes dependent on whether buyers can overcome the selling pressure. By Shayan The Daily Chart Ethereum’s daily chart reveals that following a pullback towards the...

Bitcoin’s recent price surge toward $66,000 has led to heightened optimism, but the market now faces a potential retracement phase. The $66K resistance level is proving to be a formidable barrier, and BTC is likely to undergo a period of consolidation or correction before determining its next major trend. Technical Analysis By Shayan The Daily Chart Bitcoin recently experienced a strong bullish surge, reaching the critical $66K resistance region after originating from a...

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In one of the latest collaborations between public and private entities, the world’s largest cryptocurrency exchange, Binance, announced that it helped Indian authorities bust a purported legitimate online gaming app that defrauded users of more than Rs 400 crore ($47.6 million). According to a blog post, the Binance Financial Intelligence Unit (FIU) provided critical aid that enabled India’s Enforcement Directorate (ED) to trace the funds siphoned by the operators of the...

An analysis by market intelligence platform IntoTheBlock has discovered the number of daily active addresses for major cryptocurrencies. This metric offers insights into the intensity of user activity on these networks. According to data gathered by IntoTheBlock, these crypto assets include large-cap altcoins like Solana (SOL), meme coins like Dogecoin (DOGE), and the largest of the bunch Bitcoin (BTC). Solana Tops the List Atop the list is Solana, with a daily active address...

The United States spot Bitcoin exchange-traded fund (ETF) market is seeing a new wave of trading alternatives, including the availability of options. This latest move could attract liquidity and longer-term investors to the Bitcoin ecosystem, but it has a downside. According to a CryptoQuant report, the availability of options for spot Bitcoin ETFs could increase the paper supply of BTC, allowing investors to gain exposure to the leading digital asset without investing...